Solana-Style Transaction Fees, on Ethereum? Yes Please. | Web3 Daily

TL;DR

Celo is on a path to turning into the ‘Visa/Mastercard’ of stablecoin funds, making them low-cost, accessible, and hands-off (throughout all main chains).

Full Story

$USDT is launching on Celo — which can really feel like déjà vu, trigger $USDC launched there simply two weeks in the past.

Right here’s why we’re weirdly intrigued by one thing as boring as stablecoin integrations:

It appears to be like like Celo is attempting to turn into the Visa (or Mastercard) of stablecoin funds — i.e. low-cost, accessible, and hands-off.

Celo is designed particularly for quick and low-cost funds on Ethereum (them and each different layer 2 on the market).

So many of us are engaged on it, trigger proper now, when you purchase one thing utilizing $USDT through the primary Ethereum community – you’re going to be paying a legal quantity of transaction charges.

Assume: wherever between $50 and $500.

For those who did the identical factor through Celo, you’d pay round $0.001 for that very same transaction, no matter ETH’s value – in truth, it’ll do it for you throughout any $USDT pleasant blockchain (like Tron, Solana, Avalanche and Omni).

“Cool, so, is that this gonna have an effect on me??” — you, in all probability.

Yeah, it probs will.

For those who use crypto, you and Celo (or one thing prefer it) will ultimately cross paths.

Trigger if crypto goes to catch on as a common cost technique — the most typical type will probably be some form of stablecoin.

A community like Celo basically says to customers:

“We don’t care what sort of stablecoin you’re holding, or which blockchain you’re attempting to ship it throughout — we’ll make sure that it will get to the place it must go, regardless.”

(Which is a regular in fiat debit/credit score funds, that crypto is but to fulfill).

Noice!